IS THE NOTION OF INDEPENDENT REGULATION AS A PANACEA FOR INTERNAL ENERGY MARKET LIBERALIZATION SYNONYMOUS WITH COMPLETE AUTONOMY?
Ernest Enobun ernieking2k@yahoo.com ABSTRACT: Sector Specific Regulation is an innovation towards liberalization reforms in the EU energy sector. However, where ‘regulation’ alone may not meet the requirements of a well-supervised implementation of energy reforms due to vulnerability to external influences, the notion of ‘Independent Regulation’ is highly desirable. The ideals of the Independent Regulator in promoting competition that is independent of the whims of companies to be regulated and government interests accounts for its role as the custodian of a true market competition, worthy of trust by new entrants. However, does this responsibility not come with an onerous challenge bothering on, amongst others, its very own acclaimed independence? The imposing influence of a natural monopoly of major actors with long-term contracts, characterized by a vertical integration tends to put a clog on the independence of the independent regulator. This paper seeks to unravel these government
